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Former Chief Executive Officers Charles Prince of Citigroup Inc. and Stanley O'Neal of Merrill Lynch & Co. , and current CEO Angelo Mozilo of Countrywide Financial Corp. are scheduled to testify before the House Oversight and Government Reform Committee... Full Article at Asbury Park Press
Related Articles
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WASHINGTON: Three prominent financial executives were summoned before the U.S. Congress on Friday to face questions about the huge paydays that they earned from the subprime mortgage boom, even as their companies have lost billions of dollars and... Full Article at International Herald Tribune
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WASHINGTON (AP) ― Democratic lawmakers say top banking industry executives were paid far too much in salary, retirement and bonuses while their companies' fortunes declined. So how much is too much? And just how much did they take home? Full Article at WCCO
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It was certain to come up sooner or later. Enron was invoked by the committee chairman, Henry Waxman, in questioning Angelo Mozilo, chief executive of Countrywide Financial about his sales of stock. Full Article at Conde Nast Portfolio
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“The reality is that I received no severance package.” That was part of E. Stanley O’Neal’s prepared testimony to a Congressional inquiry into his exit payments, as the former Merrill Lynch chief executive and two other executives defended their pay... Full Article at Dealbook
Related Quotes
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You'll start to see a flood of performance-contingent plans
SOURCE: Asbury Park Press -
There's an element of Greek tragedy
SOURCE: Los Angeles Times -
I think there's merit to pay for performance ... But it seems like C.E.O.'s hit the lottery even when their companies collapse.
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I have no reason to believe our board would think it inconsistent to sell stock while the company was doing a stock buyback
SOURCE: Conde Nast Portfolio
